The Chemours Company $CC Position Cut by Peregrine Capital Management LLC

Peregrine Capital Management LLC reduced its holdings in The Chemours Company (NYSE:CC) by 8.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 334,117 shares of the specialty chemicals company’s stock after selling 32,244 shares during the quarter. Peregrine Capital Management LLC owned 0.22% of Chemours worth $7,361,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CC. Atlas Capital Advisors Inc. acquired a new position in shares of Chemours during the fourth quarter valued at $26,000. Aster Capital Management DIFC Ltd acquired a new position in Chemours during the 4th quarter valued at about $28,000. Covestor Ltd raised its position in shares of Chemours by 204.7% during the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 1,748 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Chemours in the 4th quarter worth approximately $31,000. Finally, Rothschild Investment LLC lifted its stake in shares of Chemours by 87.0% in the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 1,255 shares during the period. Institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CC shares. Royal Bank Of Canada boosted their target price on Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Mizuho lowered their price target on Chemours from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday. Truist Financial boosted their price objective on Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. upped their price objective on Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. Finally, UBS Group raised their target price on Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Chemours presently has an average rating of “Hold” and an average target price of $24.10.

Chemours Trading Down 1.9%

Chemours stock opened at $20.12 on Thursday. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -7.62 and a beta of 1.41. The Chemours Company has a 1 year low of $10.44 and a 1 year high of $28.67. The firm’s 50 day moving average price is $22.70 and its two-hundred day moving average price is $19.20. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82.

Chemours (NYSE:CC) last announced its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.40 billion. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, research analysts predict that The Chemours Company will post 1.07 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th were issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 15th. Chemours’s dividend payout ratio is currently -13.26%.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.